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May 14, 2014

Are You Managing Someone Else’s Money?

Millions of Americans
are managing money or property for a family member or friend who is unable to
pay bills or make financial decisions. This can be very overwhelming. But, it’s
also a great opportunity to help someone they care about, and protect them from
scams and exploitation.
The Consumer Financial Protection Bureau produced four booklets to help
financial caregivers. The Managing
Someone Else’s Money guides help people acting as fiduciaries in three
ways:
• explains their duties.
• tell them how to watch out for scams & financial exploitation & what
to do if their loved one is a victim.
• tell them where to go for help.
The guides are available to download on the CFPB website at www.consumerfinance.gov/managing-someone-elses-money